Muhammad Imtiaz Alam Hanfi (6 January 1929 – 22 April 2015) was a Pakistani civil servant who served as the governor of the State Bank of Pakistan (SBP) and has been part of various government committees, including the Planning Commission.
Hanfi suffered severe bronchitis and asthmatic problems in his childhood and doctors advised his parent to keep him away from studies or sports; which is why he started formal education from grade 5.
Hanfi enrolled in Islamia College and went on to complete a master's degree in economics at the University of Karachi in 1952, with a First Class position.
[citation needed] Hanfi always wanted to join the Civil Service; however, on the insistence of his roommate, he applied for an opening as an SBP Class I Officer.
He introduced a system of treasury bills auctions and foreign exchange reforms, including the relaxation and dismantling of controls; however, the most important was the handling of the BCCI crisis and privatization of the financial sector.
It was reported by famous journalist Shaheen Sahbai that Governor Sindh Jam Sadiq Ali openly told people that he would get Hanfi's family kidnapped as he was not approving the establishment of Mehran Bank.
It is important to note that Ghulam Ishaq Khan had worked with Hanfi during his days as Governor of State Bank.